Individual nomination facility is available in this.
The client will also be given a universal notebook.
The scheme account can be transferred from one branch to another branch.
New Delhi. By now, you must have heard of taking a loan from the bank, why have you heard? You may have taken it too. But in the scheme that we are going to tell about today, instead of taking a loan from the bank, you have to give a loan to the bank, in exchange for which you will get fixed income in the form of EMI. Under this scheme, customers will get a fixed amount every month. With this scheme, clients can also use their savings as monthly income. Clients can view SBI Annuity Deposit Scheme i.e. Annuity Deposit Scheme (SBI Annuity Deposit Scheme). In this scheme, the investor has to deposit a lump sum. After a fixed period, there will be guaranteed income in the form of EMI, i.e. monthly fee.
According to the official SBI website, you can get a fixed amount every month by making a one-time deposit. This amount includes the principal amount and the interest received thereon. This interest is calculated on the compounding each quarter on the balance of the account. According to the SBI website, the same interest is available on the deposit in this scheme, which is available on the bank’s term deposit, i.e. FD (Fixed Deposit). So, let’s know about it in detail.
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For how many months can you deposit?
In this SBI scheme, the annuity will be paid from the due date in the next month of deposit. If that date does not exist in any month (29, 30 and 31), then the annuity will be received on a date in the following month. The universal passbook is issued to the client in the scheme. In this you can make deposits at 36, 60, 84 or 120 months. This scheme is available at all SBI branches. There is no maximum deposit limit on this. At the same time, the minimum deposit will need to be made at least Rs 1000 as per the monthly annuity.
You can take 12000 rupees every month
Suppose if you invest Rs 6 lakh in the scheme then every month you will get Rs 10-12 lakh in the form of easy installments. The annuity will be paid after TDS is deducted and credited to the linked checking or savings account. In the SBI Annuity Deposit Scheme, ordinary customers and senior citizens earn the interest they receive on time deposits. Individual nomination facility is available in this. The scheme account can be transferred from one branch of the bank to another branch.
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Tags: Investment and return, sbi, SBI Bank
FIRST POSTED: March 18, 2023 1:53 PM IST